MTAR Tech Shares Surge 6% Following ₹226 Crore Order Wins

Shares of MTAR Technologies surged nearly 6% on December 20, driven by the company's announcement of ₹226 crore in new order wins across its clean energy and aerospace segments. The company secured ₹191 crore worth of orders from Bloom Energy in the clean energy sector, while the aerospace segment contributed ₹35 crore in orders from clients such as Rafael, IMI Systems, and IAI. 

These orders are expected to be completed within a year, with the remainder scheduled for delivery by April 2026. MTAR Technologies emphasized that the order inflows reflect its growing market share in these industries.

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At 10:06 a.m. IST, shares of MTAR Technologies share price were trading at ₹1,716 on the NSE. The increase in stock price was accompanied by a rise in trading volumes, with over four lakh shares changing hands, surpassing the one-month daily average of three lakh shares.

The company’s management expressed optimism about future growth prospects, particularly in the clean energy and aerospace verticals. Managing Director Parvat Srinivas Reddy highlighted expectations for significant order inflows in both segments moving forward, underscoring the company’s confidence in its long-term trajectory.

Brokerage firm Motilal Oswal noted that MTAR Technologies had faced challenges in recent quarters due to a product transition by Bloom Energy. However, demand for Bloom’s fuel cells has rebounded, offering a substantial growth opportunity. Bloom Energy’s recent agreement with American Electric Power to install 1 GW of power over two years represents a potential ₹900 crore–₹1,100 crore opportunity for MTAR Technologies. The company is also diversifying its client base by adding names like Fluence Energy, which is expected to contribute significantly in the future.

Motilal Oswal anticipates MTAR Technologies to deliver a revenue, EBITDA, and PAT CAGR of 28%, 42%, and 58%, respectively, from FY24 to FY27. The brokerage has issued a "Buy" rating on the stock with a price target of ₹2,100, indicating a 35% potential upside from current levels. Other analysts, including InCred Research, Yes Research, and JM Financial, also maintain bullish views on the stock, with price targets of ₹2,644, ₹2,350, and ₹2,575, respectively.

While client concentration remains a risk—approximately 70% of MTAR’s revenue comes from Bloom Energy—the company’s diversification efforts are expected to mitigate this challenge, positioning it well for sustained growth in the clean energy and aerospace sectors.